MM (Money Maker) Detective Indicator
MM (Market-Maker) Detective & Liquidity Gap Indicators
May 28, 2019
A change in the thread's direction...
(Beginning at Post #2096 -- https://www.forexfactory.com/showthr...7#post12298537)
For those paying attention, recently I (and others) reached clarity as to whether this thread should continue pursuing how to trade @George's methodology. The answer is 'no'. For those who are here only for @George's methodology, then you should return to his thread. Sometimes his thread is turned ON, sometimes it's turned OFF -- it depends. I believe it recently got turned ON again.
The way things turned out sort of leaves a bad taste in my mouth. However, I did learn a lot and will always be indebted to @George. If anyone feels bad that we could never figure out how to apply what we learned to actually trading -- don't. After 5 months, and hundreds of people spending 1000's of hours -- no one trades @George's methodology outside his inner circle. People from the inner circle sit with @George and spend hours together trading. People who don't sit with @George receive occasional riddles and Treasure Maps. People from the inner circle think they don't have an advantage and that riddles and Treasure maps should suffice -- i.e. their thinking is if only those outside the inner circle stopped making excuses, weren't so lazy, and were smarter then they, too, would get it.
The inner circle is aware the success rate outside the inner circle is 0%. If you are a coach, teacher, mentor, family patriarch, or friend, and everyone around you is failing 100% of the time -- you might contemplate that something isn't working. But the inner circle never contemplates that. On one hand I don't think we were fed misinformation -- but on the other I think their intent was to always keep it a mystery. With a failure rate of 100%, there is no other explanation. The inner circle is composed of some very smart people -- they were aware of the failure rate outside their inner circle.
Here's the plan going forward -- the thread will remain alive but the direction will shift. I'm still interested in MM manipulation and explanations as to why the price moves the way it does, but I wish to focus more on actual trading. With @Nih98's blessing, I would like to transition to his trading system. He is the OP of a beautiful thread (https://www.forexfactory.com/showthread.php?t=915096), shares great tools, spends time preparing excellent screen shots with clear explanations and is a great trader. Also, he is clearly someone who wants us all to succeed. So the plan is to use his system as a reference or baseline trading system -- i.e. something we can become familiar and comfortable with and know it will perform at a high level. And then we will continue to experiment, share observations, and look to make improvements. If new ideas look promising then I will also code additional indicators. Or if people have thoughts as to how to better automate or detect trading signals -- then those could also be incorporated into new indicators.
So, once again, the emphasis will be on:
1. Transition to Nih98's system
3. Further improvements and / or automation
I don't mind if other systems are mentioned -- but only if you can tie it into improving Nih98's system. For example, perhaps another system makes use of a particular observation and you think that could also be adapted to Nih98's system then, yes, that would be perfect.
Oh, yes -- there's another advantage to transitioning to Nih98's system. Below is an example of one of @Nih98's charts. I don't think there will be any further controversy whether or not indicators are useless...
When you create a thread then over time all the posts get locked-down and the only one the OP can revisit to re-edit is Post #1. Furthermore, Post #1 is limited to a maximum of 10 attachments -- and that includes both images and file uploads.
So, in an effort to make it easier for me to better manage the custom indicators I've been uploading, I've created a new thread called "Custom Indicators for TMA-ADR Reversal Trading and BBMA". Here is a link:
The "Custom Indicators for TMA-ADR Reversal Trading and BBMA" thread is intended to be read-only -- so please don't post there. It seems FF doesn't allow an OP to make a thread completely read-only, the only way I found to restrict posting was by limiting posting to members ranked at least 'High Impact'.
If you have questions or comments or suggestions regarding the indicators please continue to post them here.
The latest (and greatest) versions of all indicators are bundled in a single *.zip file in post #1 of the new thread.
The MMDetective indicator has 3 settings -- described below:
The first setting, when 'true', removes TOPS and BOTTOMS taken-out by spikes -- this is the default behavior. If set to 'false', then the purple and blue lines will extend to the right-hand edge of the chart (i.e. current time). When set to 'true' then by glancing at the right-hand edge of the chart you see only those TOPS (purple lines) and BOTTOMS (blue lines) that have survived until now.
The second setting, when 'true', displays the fractal points used to determine TOPS and BOTTOMS -- this is the default behavior. If set to 'false', then the fractal points are hidden.
The third setting is used to specify the maximum number of bars to use for the calculations -- the default is 500 and I would recommend leaving it at that value.
Below is an example of applying a 10-period, simple MA to the MMDetective indicator:
Look at the portion of the price line labeled "Rising 10 Simple MA". Do you see how short the purple lines are and how long the blue lines are? This is not rocket science, and simply confirms -- visually -- why you should not be selling when a 10 SMA is rising. Similarly, looking at the portion of the price line labeled "Falling 10 Simple MA", you can see that the "lifetimes" of the purple lines are much longer than the blue lines -- visually confirming why you should not be buying when a 10 SMA is falling.
Again -- this is nothing new. However, the MMDetective indicator makes it much easier to visualize how the price is moving. Also, combined with the fractals points, this can be used to provide trade signals.
As an FYI -- this indicator does not repaint. However, it usually takes 3-5 bars to compute a fractal point. So, if you notice a fractal point above or below a bar where one hadn't appeared previously, it is because it takes 3-5 bars to compute a fractal point. In other words, fractal points will always lag 3-5 bars.
Below is another example using the TmaTrue indicator with the MMDetective indicator:
I've circled 4 BOTTOMS that poked below the TMA line -- these would have been good places to open BUY positions. I've also circled 4 TOPS that poked above the TMA line -- these would have been good places to open SELL positions.
ok mm im buying gold for fun to 1285 and i dare you to take it down
I've created and shared a new type of indicator. I've explained how it works. I've provided a couple of examples of how it may be combined with other indicators. The exercise is left for you to determine (a) if the indicator provides any value and, if so (b) how best to use it in your trading. And if you find a combination that works well for you then, hopefully, you would share it with the rest of us.
Are you saying the indicator doesn't even appear in the Navigator list? Or that it fails when you attach it to a chart? If it is the former, have you tried refreshing the list (or relaunching MT4)? If it is the latter, then check for error messages under the 'Experts' tab in the 'Terminal' window.
I've already spent time downloading and installing MT4 from one of your preferred brokers -- the indicator appears under the Navigator pane and runs fine.
There have been a number of downloads -- and, so far, you are the only one reporting a problem. It is known that MT4 will delete *.ex4 files that it doesn't like (e.g. a text file that was renamed with an *.ex4 extension). Have you checked whether the *.ex4 is still present in the Indicators folder?
But back on topic: the file is still in the folder, and still doesn't show up.
We will wait and see if im the only one, so if someone else who downloaded it can confirm if it works or not, would be great
Nice Indicator...Loads Fine....Thanks for Sharing....
However...Adjusting colors of the lines (Dodgerblue/Magenta) doesn' t work.....prefer a bit "brighter" colors....
And ...it deletes all "manual" drawn lines.....
Thanks for sharing If i have a good idea how to incorporate this indi in trading i'll share it here
And, yes, any insights you gain I'd be interested to learn.
Nice work Brother.
From programming side, maybe lines color, size, type options will be great and also unique string names for that, so when de-init we could do specific clean out and not delete all objects in active chart.
Thanks for sharing. I appreciate the use of this indicator especially for the lazy ones not really keen on drawing the past targets and also to see how the theory has worked in the past (although I wouldn't go as far as to endorse your suggested MA and TMA applications, as they make lose sight of the psychology factor). Something I noticed, though, as shown in the pic: how come those lines do not stop at the points marked by the arrows when the price takes those levels out? There are other examples in that same chart but those 2 are enough to make my point. Maybe a bug?
Also, by keeping the default settings for the 1st option, should we not see only the lines still not violated at this moment, while we see quite a lot that have been stopped, as in yours and my pic?
Again the way the indi behaves right now, it looks useful for looking at the past action, and it's worth to still keep that option, but it would be handy to add a further one, again, to show only the lines still not violated. Thanks.
I do have a request to robots4me...I am a colour blind male (about 25% of males are colour blind). I have tried to change the colour Magenta to OrangeRed as Magenta and DodgerBlue look pretty much the same colour to me. My changes do not save and revert back to Magenta. When scanning a chart it becomes hard to see the difference when the lines are in close proximity to each other. Is it possible to have the indicator accept changes to the colours?
The concept looks pretty good and I look forward to giving it a run.
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